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Neon group CEO to step down

Martin Reith is stepping down as group CEO of American Financial Group Inc. subsidiary Neon, effective Sept. 30.

Reith will also resign from his other executive roles at Neon. He will stay as a nonexecutive director of Neon Underwriting Ltd.'s board to work with the Neon management team and American Financial to guarantee an effective transition. He will also advise the management team on other strategic matters.

Neon Underwriting CEO Theo Butt was named to replace Reith as a director on the board of Neon Capital Ltd., the parent holding company for Neon.